AMD GPU Shortage as Litecoin Mining Gains Popularity

AMD GPU Shortage as Litecoin Mining Gains Popularity

AMD Radeon series Graphic Cards have seen a huge boost in selling since the big increase of the Litecoin price, which makes is a lot more profitable to mine LTC in comparison to other cryptocurrencies. Because Litecoin’s Scrypt algorithm is ASIC mining resistant, there is no other option to mine it then through GPU’s or CPU’s. Because CPU mining is a thing of the past because of the high difficulty, the only option really are the Graphic cards. The best graphic cards for Litecoin mining are the AMD Radeon series, which are now sold out on almost any major electronics retailer both online and offline.

The reason for this increase in interest to mine LTC is because its recent public exposure & price rise. China has become a lot more aware of the cryptocurrency, and the coin gains more popularity each day. This means that the mining profitability has shot up, along with the price of LTC.

Litecoin mining difficulty increaseAs you can see in the picture above, the difficulty has exploded in the past month, which is why people are stocking up on GPU’s, to maintain the same profitability level. It is reported that AMD has generated $195M extra in sales because of Litecoin miners alone. The AMD Radeon 7950 was the flagship graphic card for LTC miners, but it has been replaced by AMD’s new Radeon R9 290X, which can produce up to 950 KH/S.

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